Including an extensive testing programme in the event of success, the drilling time
from spud to completion is expected to be around 33 days.
At this depth, the well is targeting the Cretaceous Rex sands with drilling time
estimated to take two weeks.
If a critical valve leaks, then the BOP may have to be pulled and this would inevitably lead to multiple days of lost drilling time
. The associated costs of this inactivity would soon spiral as the outlay of running a rig can exceed $700,000 a day, while the operator suffers higher costs and downtime is a further delay to actual oil production.
It also seeks to reduce drilling time
by 30 per cent by end 2019.
And, importantly, to drive efficiency across our entire value chain, from reducing drilling time
to maximising the value of every barrel we produce," Dr Al Jaber said.
The partnership will see Adnoc come closer to its target of a 30% reduction in drilling time
by the end of 2019.
The design of the bit causes less vibration on the PDC cutting structure, which allows the bit to be more durable and long-lasting, while improving efficiency, saving drilling time
It can reduce drilling time
by half, in some cases.
It remains on track to expand oil production capacity to 3.5 million barrels a day by the end of 2018, and to improve drilling time
by 30 per cent by 2019.
Summary: ADNOC CEO Dr Sultan Al Jaber has said the oil giant will aim to cut oil drilling time
by "30 …
He also mentioned that record 43 wells were drilled in operated and partner-operated assets while deploying highest-ever 13 rigs operation with remarkable reduction in drilling time